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AfriRen gets USD5m from Standard Chartered for woodchip facility
By
Editorial
Tue Jan 24 2012, 09:38 AM
A subsidiary of Africa Renewables (AfriRen) has secured a USD5m credit facility from Standard Chartered to develop a production plant for woodchips in Ghana. The financing comprises a USD3m loan and a USD2m working capital facility for operational expenses. The firm plans to make a USD8m investment in Ghana and hopes to raise a further USD30m to support similar projects across the West African region.
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